How the Commonwealth Bank, Westpac, ANZ and NAB bosses justify closing hundreds of branches across regional Australia
ABCFor the past six months, a Senate inquiry has travelled across the country to find out why more than 1,600 bank branches have shut across regional and rural Australia in the last six years. On Wednesday, the inquiry heard directly from those in charge of the closures — the bosses of Australia's "Big Four" banks: Commonwealth Bank, Westpac, NAB and ANZ. Mr Comyn told the hearing the bank contributes "tens of millions of dollars" towards Bank@Post, while Westpac has committed to a 10-year contract with Australia Post valued over $200 million. "We believe over 95 per cent of the services we provide over the counter in one of our branches can be provided in Australia Post," said Mr King, Westpac's CEO. Earlier, Senator Linda White pointed out to the Commonwealth Bank that Australia Post branches are also beginning to close, which risks leaving the Bank@Post service — and therefore regional customers — in the lurch.
History of this topic
Big Four banks to keep their regional branches open until at least mid-2027 under new agreement
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Westpac is called out over major customer failure
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Australia's banking watchdog sanctions Westpac over sudden branch closure in Tennant Creek
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Bank closures in regional Australia final report calls for guaranteed cash access, establishing a public bank
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Banks called on to explain mass branch closures
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Commonwealth Bank close thousands of ATMs
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NAB Bank closes dozens of branches across Australia
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NAB, ANZ, Commonwealth Bank, Westpac: Disturbing number of Aussie bank branches that have closed in past six years – as sad stories emerge about workers struggling with cashless society
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Australia on track to become cashless as Commonwealth Bank, Westpac, ANZ and NAB close branches
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Hundreds more regional bank branches 'at risk' of closing as banks attempt to balance in-person and digital demand
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Regional bank closures 'disastrous' for small towns, federal inquiry hears
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Mass exodus of regional bank branches across Australia leaves residents seeking solutions
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Westpac reverses decision to close eight regional branches as senate inquiry continues
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A third of the nation's bank branches have shut in the past five years — for people in the country, that's a huge problem
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Regional bank closures have SA locals buying safes, scared for safety as MP calls for banks to do 'right thing'
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Westpac postpones regional bank branch closures ahead of Senate inquiry
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Australian banks close hundreds of branches and ATMs as services move online
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Westpac branch closures in NSW, QLD, WA, SA and Victoria with job losses to come
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Westpac to close four branches across regional WA as Bankwest reduces opening hours
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Commonwealth Bank temporarily closes 114 branches, 500 staff affected due to coronavirus impacts
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